Loan
This query is : Resolved
24 January 2009
If any private company can take loan from the following persons is perimitted
1) Directors of the company
2) Any other persons
3) Registered Private money lenders
4) Relatives of director
If not permitted what wil be the effect of this transaction. Please advise me in detail.
1) Directors of the company
2) Any other persons
3) Registered Private money lenders
4) Relatives of director
If not permitted what wil be the effect of this transaction. Please advise me in detail.
24 January 2009
Loans in a private company can be obtained only from shareholder, banks and financial instituitons or private finance companies registered under companies act.
If you take loan from others then it becomes violation of 58A under companies act, ie accepting deposits without rbi approval.
If you take loan from others then it becomes violation of 58A under companies act, ie accepting deposits without rbi approval.
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